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Taxation

Taxman to follow normal course of action to recover ‘tax dues’ worth Rs 115 cr from Congress

by Ron Morgan
Taxman to follow normal course of action to recover ‘tax dues’ worth Rs 115 cr from Congress

NEW DELHI: The income tax department will press ahead with recovery of income tax dues totalling Rs 115 crore from the Indian National Congress, for the financial year 2018-19, people …

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Rationalisation of duty structure important for fast adoption of new technologies: BMW India Head

by Horatio Thompson
Rationalisation of duty structure important for fast adoption of new technologies: BMW India Head

Rationalisation of the duty structure is critical for the fast adoption of new technologies, including electric vehicles, BMW Group India President Vikram Pawah said on Thursday. He stressed on a …

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CoinDCX’s Year-End Report Unveils Maturing Investor Base in India

by Isaac Wright
CoinDCX’s Year-End Report Unveils Maturing Investor Base in India

Despite India’s controversial crypto policy and lack of clarity in several aspects, the country emerges as the top market. According to a new report by crypto exchange CoinDCX, 28 Indian …

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IRS Intensifies Efforts to Combat Crypto-related Tax Evasion

by Isaac Wright
IRS Intensifies Efforts to Combat Crypto-related Tax Evasion

According to a report from the Internal Revenue Service (IRS) criminal investigations division, tax evasion has emerged as a significant area of focus in crypto investigations. More than half of …

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Swiss City Lugano Now Accepts Bitcoin and Tether for Municipal Taxes

by Isaac Wright
Swiss City Lugano Now Accepts Bitcoin and Tether for Municipal Taxes

On December 5, 2023, Lugano, a Swiss City, announced the incorporation of the cryptocurrencies Bitcoin (BTC) and Tether (USDT) for tax and other municipal fee payments. This makes part of …

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Brazilian Lawmakers Approve 15% Tax for Cryptocurrencies on Offshore Exchanges

by Isaac Wright
Brazilian Lawmakers Approve 15% Tax for Cryptocurrencies on Offshore Exchanges

The Brazil Senate has approved new rules that will mandate locals to pay up to 15% tax on income generated from cryptocurrencies on offshore exchanges. According to a live recording …

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India Loses $420 Million in Potential Revenue Due to 1% TDS

by Isaac Wright
CoinDCX’s Year-End Report Unveils Maturing Investor Base in India

The Indian government has lost $420 million in what could have been a substantial revenue stream as a result of its taxation, forcing traders to move their transactions outside the …

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Oyster Protocol Founder Receives Four-Year Sentence for Tax Evasion

by Isaac Wright
Oyster Protocol Founder Receives Four-Year Sentence for Tax Evasion

Amir Bruno Elmaani, famously known in the cryptocurrency world as “Bruno Block” and the founder of the Oyster Protocol has been sentenced to four years in prison for tax offenses …

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